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Hi, fintech fam! 💜

Tomorrow marks the start of my September speaking tour, packed with exciting engagements!

First, I’m off to LA to join a panel on Mixed Asian Day, discussing the crucial role of representation in media.

Next, I’ll be in Huntington Beach for Future Proof, where I’ll moderate a panel, followed by a keynote address at the FPA Annual Conference in Columbus, Ohio, focusing on how fintech and AI enhance financial planners' capabilities rather than replace them.

Back in NYC, I’ll host two panel discussions on climate fintech and funding at the Emerald Summit: The Premium Climate Week NYC event. Finally, I’ll wrap up the tour as emcee for Trustage’s Fintech Summit in Madison, Wisconsin—one of my favorite events of the year!

It will be a whirlwind, but I’m thrilled to connect with you in person. Where will I see you?

P.S. If you’re interested in booking me as a speaker, moderator, or emcee for your upcoming events, just reply to this email and let’s chat!

Now, let's dive into some fintech news.

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What’s Up In Fintech

Every Thursday, I deliver the hottest fintech news and trends, keeping you updated with the most essential insights impacting the industry.

#1 Climate Fintech: Women Poised to Lead the Green Economy

Money shapes culture, and right now, fintech is driving a powerful new wave of climate action. At the heart of this movement? Women. Female founders and investors are stepping up as key players in climate fintech, seamlessly aligning environmental goals with business profitability.

Here’s what’s happening: Women are putting their focus on financial innovations that address climate change head-on. Whether through ESG (Environmental, Social, and Governance) investing, carbon emissions tracking, or sustainable banking platforms, female entrepreneurs in fintech are crafting the tools that could shape our greener tomorrow.

These leaders are launching everything from green bond funds to apps for tracking personal carbon footprints—and investors are starting to notice.

• ESG funds alone reached a whopping $8.4 trillion in the U.S. in 2022, with female investors being 71% more likely than men to prioritize sustainability in their portfolios.

• Global venture capital funding into climate tech soared to $70.1 billion in 2022, and of that, $1.2 billion found its way to climate fintech startups.

• However, there’s a major funding gap: Less than 2% of total venture funding still goes to female founders across industries, and climate fintech is no exception.

Despite these challenges, research shows that investing in women-led businesses is not just profitable, but it also drives better environmental outcomes.

According to UNEP FI, the global climate finance gap will need $1 trillion annually by 2030 to meet net-zero targets—and women’s leadership will be essential in getting us there.

Why it Matters

Climate fintech is more than just an opportunity for profit—it’s essential for building a sustainable future. Women founders are in charge of innovative solutions but still face significant funding barriers. In a world where the climate crisis is only intensifying, these female-led ventures are developing the necessary tools to address it.

Research consistently shows that female business leaders better integrate climate considerations into their decisions. Yet, the funding doesn’t reflect this strength.

The IFC estimates that only 7% of private equity and venture funding in emerging markets goes toward female-led businesses, and a mere 3% of philanthropic environmental funding supports women’s environmental activism.

The Bigger Picture:

Investors are starting to wake up to the untapped potential of climate fintech, but we need more capital flowing to female-led startups. If we’re serious about building a future that blends profitability with planetary health, we must prioritize investing in these ventures—and the women at the helm.

So, how do we make that happen? There are several key ways we can increase funding for women in climate fintech:

• Leverage alternative funding sources like donor-advised funds and philanthropic resources, where women often have more control over investment decisions.

• Provide education and training to empower women investors to confidently align their investments with their values, particularly in climate tech.

• Improve connectivity between women investors, founders, and decision-makers by creating more inclusive events and mixers that foster meaningful connections.

• Encourage male allies in positions of power to be vocal supporters of investing in women-led climate startups.

• Explore creative funding models, such as crowdsourcing, to help women-led climate fintech startups gain visibility and access to capital.

These approaches—leveraging non-traditional funding sources, fostering education and community support, and engaging male allies—are essential to breaking down the systemic barriers that women face in accessing climate tech funding.

Join me at the Emerald Summit next week where I’ll be sitting down with founders like Stefania Di Bartolomeo, founder & CEO of Physis and investors like Elisabeth Ballreich of Women’s World Banking to discuss building and funding climate fintech.

We’ll dive into the challenges, the opportunities, and the action items necessary to make this vision a reality.

(Register in the event section below!)

#2 Fearless Fund’s Settlement: Why It’s a Win

The Fearless Fund, an Atlanta-based venture capital firm focused on supporting women of color, settled a lawsuit filed by the American Alliance for Equal Rights.

The lawsuit, led by conservative activist Ed Blum, targeted the Fearless Strivers Grant Contest, which awarded $20,000 to Black women-owned businesses.

The suit argued that the program violated anti-discrimination laws. In June 2023, the U.S. Federal Court of Appeals ruled to halt the grant program, but the Fearless Fund has since avoided a Supreme Court ruling that could have jeopardized minority-based funding programs across the country.

Why It Matters

This settlement is being hailed as a win by the Fearless Fund. Here’s why:

1. No Supreme Court Ruling: By avoiding a Supreme Court decision, Fearless Fund strategically protected minority-focused funding programs across the country, preventing a ruling that could have eliminated race-based grants entirely—similar to the court's decision on affirmative action in college admissions.

2. Bigger Impact Ahead: While the stopped grant program only funded six entrepreneurs, Fearless Fund is launching a new $200 million debt fund to support over 3,000 under-resourced male and female entrepreneurs. That’s a massive expansion in reach and impact.

3. Continued Mission: Despite the lawsuit, the Fearless Fund remains committed to investing in underrepresented founders. They’ve already awarded grants to over 500 individuals and are doubling down on their mission with new programs.

For fintech, diversity and inclusion are critical drivers of innovation.

Women of color, like those supported by Fearless Fund, have been key players in developing fintech solutions that address the needs of underserved communities—solutions that often go overlooked by mainstream financial institutions.

The lawsuit’s impact could have significantly narrowed the pipeline of diverse talent and innovation within fintech. As the industry pushes forward, it’s essential that funding remains accessible to underrepresented entrepreneurs who are creating the next generation of financial technology.

The Bigger Picture: This case is part of a broader conservative push to challenge DEI initiatives in corporate America. Fearless Fund points to the political divide in court rulings—Trump-appointed judges ruled against them, while judges appointed by Clinton and Obama ruled in their favor—and emphasizes that elections have consequences. These consequences determine who receives funding and who does not, as well as which fintech solutions come to fruition and which do not.

Bottom Line: Fearless Fund’s settlement is a strategic victory that preserves their mission, expands their impact, and keeps the fight for minority-focused funding alive—an essential win for fintech’s future innovation.

#3 Rethink Impact Raises $250M

Jenny Abramson and Heidi Patel, co-founders of Rethink Impact, have just closed a $250 million round for their third fund, bringing their total assets under management to over half a billion dollars.

Backed by investors like Melinda French Gates’s Pivotal Ventures and institutional partners like UBS, this round cements Rethink Impact as the largest venture capital firm dedicated to funding female CEOs, Forbes reported.

What makes this achievement even more remarkable? It comes during a year when venture capital fundraising is on track for its worst performance in a decade.

Why It Matters

This is a huge win, not just for Rethink Impact but also for female founders, especially in sectors like fintech, where diverse perspectives are driving innovation. Abramson and Patel’s success in rapidly closing this fund—at a time when most firms are struggling to secure capital—sends a clear message:

Investing in women-led businesses is not just good ethics; it’s smart business. 

Diversity = Innovation: Women are founding 40% of all tech startups, and they’re launching businesses at twice the rate of men. Fintech, which thrives on innovative, inclusive solutions, needs these voices to solve complex challenges.

Strong Track Record: Rethink’s portfolio includes companies like Ellevest ($2 billion AUM), Guild Education ($4.4 billion valuation), and Spring Health ($3.3 billion valuation).

Rethink Impact’s approach proves overlooked founders, particularly women, can create highly scalable and profitable solutions. Their strategy avoids the pitfalls of VC bubbles by targeting a largely untapped market segment. In an industry where innovation is key, ignoring this growing talent pool is a missed opportunity.

Fintech startups like Candidly, founded and led by CEO Laurel Taylor, benefit not only from financial backing but also from the strategic connections that firms like Rethink offer. 

As Forbes points out, those connections look like: 

• Taylor launched Candidly in 2016 to help borrowers pay down their student debt faster. 

• In 2019, Candidly raised a $11 million series A led by Rethink, and Abramson joined the board. 

• That year, Abrams introduced her to Rethink LP, who put her in touch with the former Head of Americas for UBS, Tom Naratil.

• In 2020, UBS deploys Candidly internally as an employee benefit within the bank and externally with clients.

• In 2021, UBS led an investment round for Candidly. 

This kind of support is invaluable in fintech, where relationships with large institutions can make or break a business.

The Bigger Picture: Abramson and Patel’s achievement stands in contrast to the growing legal challenges to diversity-focused initiatives, like the lawsuit against the Fearless Fund. While some argue that focusing on women-owned businesses limits returns, Rethink Impact's results suggest otherwise.

Bottom Line: Their mission helps them avoid venture capital bubbles, and their differentiated approach brings attention to deals that might otherwise be overlooked by male-dominated firms.

_{MARK YOUR CALENDARS}

Join us every Thursday to stay updated on the top fintech events each week! These events are a great way to network, learn, and connect with our fintech community. Let's fill our calendars with these awesome events - I would love to see you there!

_{OCTOBER 7-8}

I'm excited to announce a unique opportunity in collaboration with the Milan Fintech Summit.

We're offering five fintech founders and CEOs the chance to join an exclusive VIP program in Milan, Italy.

This program is tailored for fintech leaders aiming to expand their global presence, and there's no better place to do it than in person, in Italy.

Interested? Reply to this email, and I'll provide you with all the details.

_{SATURDAY 9/14}

Proud to showcase Fintech Is Femme at Mixed Asian Day in LA!

This Saturday, come join us for insightful panels, hands-on workshops, and vibrant celebrations of our diverse Asian identities and cultures!

_{MONDAY 9/16}

Thrilled to join my friends at Future Proof for another year of wealth festival fun! Sunny California + all my favorite wealth tech friends in one place, I wouldn’t miss it!

I’m on a panel about humanizing tech on Monday afternoon. Here’s the agenda - come say hi!

_{THURSDAY 9/19}

I’m thrilled to be attending the FPA Annual Conference in Columbus for an industry-leading discussion on how technology is making financial planning more human and behaviorally-focused.

I’ll be moderating a stellar panel featuring:

🎤 Dani Fava, Chief Strategy Officer, Carson Group

🎤 Margaret J. Hartigan, Founder & CEO, Marstone

🎤 Kate Ring, Chief Compliance Officer, Stash

We’ll dive into how fintech enables financial advisors to reach more people, making financial planning accessible to everyone.

And yes, we’ll probably touch on the role of AI too. 🤖

_{FRIDAY 9/20}

Join a community of executive women, climate tech innovators, and impact investors at the Emerald Summit 2024 on September 20th.

This year, we're focused on boosting venture capital and project finance for women-led climate startups in sustainability, inclusion, education, and tech.

Can’t wait to see you there! RSVP for the free event here.

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_FINTUNES

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That’s all for now! See you Tuesday!

Love,

Nicole 💜